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In a new podcast entitled "On the road to full autonomy with Elon Musk," the founder of Tesla agrees that the financial system is about to experience a revolution.
According to Musk,
"Paper money goes away. Crypto is a much more efficient way of transferring value than bits of paper, for sure. "
Despite Musk's predictions, there is no cryptographic plan for Tesla.
Musk revolutionized the cryptographic community last year when he tweeted about Bitcoin, sparking speculation that the automaker would change the subject and switch to crypto.
Do you want to buy Bitcoin? ?? pic.twitter.com/9ZbBJ5fuVq
– Elon Musk (@elonmusk) October 22, 2018
But the technology entrepreneur made it clear in the interview that the company had no intention of getting involved in activities related to bitcoin or crypto.
Addressing Cathie Wood, CEO of ARK Invest, and Tasha Keeney, an badyst, co-founder of PayPal in the payments industry, she shared her thoughts on the payments industry. She shared her general thoughts on bitcoin as an emerging technology.
"I think the Bitcoin structure is pretty brilliant, and it seems that Ethereum also has some merit. But I'm not sure it would be a good use of Tesla resources to get involved in cryptography. "
Engineer who has spent years with the Tesla team optimizing speed, safety and energy consumption, the contractor said that Bitcoin had advantages and disadvantages, and that he was concerned about the exploitation Cryptocurrency mining, energy-intensive process that confirms network transactions.
"We are really trying to accelerate the progress of sustainable energy, and I think one of the disadvantages of cryptography is that, from an IT standpoint, it consumes a lot of energy. There must have been some kind of constraint on creating crypto. But it takes a lot of energy to create slightly incremental Bitcoin at this point. "
However, given the case of using Bitcoin in Africa, where companies use cryptography to "transfer free money" and avoid expensive bank charges, Musk acknowledges that Bitcoin and others Decentralized badets can bypbad currency controls and beat banks to value.
You can listen to the full podcast here.
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Disclaimer: Daily Hodl's advice is not investment advice. Investors should exercise due diligence before making high-risk investments in Bitcoin, Cryptocurrency or digital badets. Please note that your transfers and transactions are at your own risk and that any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling crypto-currencies or digital badets, and the Daily Hodl is not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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